I often have the opportunity to meet individuals who, while helping with their child’s or grandchild’s tuition and supporting their local Catholic school, wish they could do more. Our conversations usually lead to a discussion of tax-wise ways of “planned giving” that can result in meaningful gifts in the near term, and “estate giving,” which can generate significant gifts in the more distant future.
Some of the shorter-term planned giving methods include:
— Gifts of stock or appreciated securities
— Gifts from IRA plans, especially from individuals aged 71.5 years or older
- Gifts of life insurance
- Gifts from donor-advised funds
Another option is longer-term “life income” plans that include:
- Charitable gift annuities
- Charitable remainder and annuity trusts
Gifts established through estate plans include:
— Bequests of a specific, percentage or residual amount
— Bequests of other property that result in tax-savings
To learn more about any of these options, your attorney or financial planner is a great resource. You or your advisor may also contact me at 856-583-6134.
Your gift can make a world of difference in the lives of our children and leave a wonderful inheritance to your children and grandchildren at the same time.
Jim Lanahan is director of Development, Diocese of Camden.
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